New Age Metals Expands Bonanza Ridge GOLD and Critical Metals Project/Strategic Acquisition of Lavender Lake & South Gibi Lake Properties
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
NEW AGE METALS EXPANDS BONANZA RIDGE GOLD AND
CRITICAL METALS PROJECT/STRATEGIC ACQUISITION OF
LAVENDER LAKE & SOUTH GIBI LAKE PROPERTIES
December 10, 2025 – Rockport, Ontario – New Age Metals Inc. (TSX.V: NAM | OTCQB:
NMTLF | FSE: P7J) (“NAM” or the “Company”) is pleased to announce that effective December
8th, 2025 it has entered into an option agreement, after completing its due diligence, with an
arms-length third parties - Mr. Troy Gallik (75%) and Shaun Holmes (25%), local Kenora
Gold District prospectors.
The Lavender Property consists of 64 mining claims and 1 patented mining claim totalling
1,335 ha (3,299 acres). The adjacent Gibi Property consists of 186 mining claims, totalling
3,881 ha (9,590 acres). These two Properties are located ~25 km southeast o f Kenora in
northwestern Ontario. The Company has the option to acquire a 100% of the Properties
subject to a 2% net smelter return (NSR) royalty, which the Company has an option to
buy down the royalty to 1% for $1 million.
With the completion of this acquisition, alongside the recently announced Magnet Lake
Property, NAM continues to consolidate its position within the Bonanza Ridge Gold and
Critical Metals Project area (see news release dated October 27, 2025: New Age Metals
Receives Exchange Approval for Bonanza Gold Project, Kenora Gold District, Ontario ). The
combined land position now forms a ~8 ,500 h a, strategically located exploration
portfolio within the Kenora Gold District, an emerging Ontario jurisdiction for both
precious and critical metals.
Highlights
• Multiple possible mineralized structural targets across both properties, with known
Au and Cu mineral occurrences (Table 1 below).
• Excellent year-round access and infrastructure, including nearby highways, boat
access, logging roads, and proximal 240 kV provincial power transmission lines.
• Strategic location ~25 km southeast of Kenora, providing direct access to mining
services, skilled labour, and logistical support in a longstanding exploration district.
• Historic and recent surface sampling confirms mineralization at surface,
including copper and gold values requiring follow-up (grab samples are
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
selective and not representative of the overall mineralized system – see table 1
below)
• Occurs along the same structural corridor that hosts multiple verified gold
occurrences within NAM’s expanding Bonanza Ridge Gold and Critical Metals
Project (see news release dated October 27, 2025: New Age Metals Receives Exchange
Approval for Bonanza Gold Project, Kenora Gold District, Ontario).
• Minimal modern exploration, leaving the majority of high-priority targets
untested for drilling or detailed geophysics.
• Eric Sprott is NAM’s largest shareholder
Harry Barr, Chairman and CEO, commented: “We are pleased to further expand our project
portfolio in the mining -friendly Kenora Gold and Critical Metals District. This acquisition
creates substantial new opportunities for both base -metal and precious -metal
exploration in an area that remains under-explored. NAM remains a well-financed critical
and precious metals exploration and development company, actively growing a diversified
portfolio across gold, antimony, lithium, platinum group metals, and copper. NAM’s
corporate objective has been to acquire and develop mineral properties capable of
generating projects attractive to mid-tier and major producers.“
“This new project further strengthens our critical and precious metals portfolio and
supports our long-term commitment to creating value for our shareholders.”
Due Diligence Site Visit and Sampling Results
A due diligence site visit and verification sampling program was successfully executed in mid-
October 2025. Eight grab samples were taken from quartz veins, basalt, gabbro, and sulphide
zones at two prospects distributed throughout the Lavender Property. T he mineralization
occurs in mafic volcanic to mafic and ultramafic rocks that host visible chalcopyrite, pyrrhotite,
pyrite, and localized malachite. The rocks are cut by a regional high -strain zone and related
property-scale and smaller -scale structures s patially associated with hydrothermal
mineralization in greenschist facies metamorphosed rocks. Due to time constraints, the site
visit and sampling efforts focused on the Lavender Property; the Gibi Property, south and east
adjacent to Lavender, was not visited.
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
The mineral occurrences sampled, and RUSH multi-element assay results are shown in Figure
1 and listed in Table 1. Photographs of selected samples are shown in Figure 2. The due
diligence program successfully confirmed the presence of copper mineralization on the
property. Particularly at the Pogson Trench prospect and defined elevated copper contents in
newly sampled areas along the Pogson Trench trend on the Lavender Property.
Figure 1. Grab Sample Assay results for Due Diligence Verification on the Lavender Property.
Also highlights Triggs Showing with previous Due Diligence samples referenced here: see news
release dated October 27, 2025: New Age Metals Receives Exchange Approval for Bonanza Gold
Project, Kenora Gold District, Ontario
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
Table 1. Due Diligence Sample Assays for the Lavender Property
Sample
ID Prospect Easting
(NAD 83)
Northing
(NAD 83)
Au
(ppb)
Cu
(ppm)
Ni
(ppm) Description
572595 Pogson
Trench 416202 5497860 14 1,620 35
Strong alteration, moderate
sulphides. Small trench on
trend with Pogson Trench
572596 Pogson
Trench 416425 5497962 28 5,454 91
Strong alteration, moderate
sulphides such as pyrite,
pyrrhotite, and chalcopyrite.
South end of Pogson Trench
572597 Pogson
Trench 416424 5497970 172 10,014 99
Strong alteration, moderate
pyrite, pyrrhotite, and
chalcopyrite and trace
malachite. North end of
Pogson Trench
572598 Pogson
Trench 416423 5497967 108 6,695 123
Mineralized quartz stringers
with trace malachite. Float
from the Pogson Trench
572599 Pogson
Trench 416370 5497935 11 897 521
Small 2 x 3 m size trench on
trend with the Pogson Trench.
Semi-massive pyrite and
pyrrhotite
572600 Pogson
Trench 416057 5497887 70 4,000 177
Newly discovered outcrop with
moderate sulphides on trend
with the Pogson Trench
572601 F35 Shear 418528 5499400 <5 49 <10 Strong alteration in quartz
vein. Moderate sulphides
572602 F35 Shear 418582 5499392 <5 379 <10 Moderate sulphides in rusty
quartz vn
Cautionary Note: Grab rock (outcrop and boulder) samples are selective by nature and are
unlikely to represent average grades on the Magnet Lake Property. These results are preliminary
in nature and not conclusive evidence of the likelihood of the occurrence of a mineral deposit.
However, these samples demonstrate significant copper (and gold) mineralization potential on
parts of the Property.
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
Figure 2. Photographs of Selected Due Diligence Samples Collected by NAM Technical
Representatives.
The Bonanza Ridge Gold and Critical Metals Project and Kenora Gold District
The acquisition of the Lavender Lake and South Gibi Lake Properties marks a further expansion
of NAM’s emerging district-scale Bonanza Ridge Gold and Critical Metals Project in the highly
prospective Kenora Gold District. Located along a favourable regiona l structural trend and
directly adjacent to NAM’s flagship Bonanza Gold Property, the new ground meaningfully
increases the Company’s exploration footprint over one of the most prospective greenstone
belts in Northwestern Ontario.
These properties provide large areas of untested geology with multiple mapped mineralized
trends and historical occurrences, highlighting potential for both gold systems and critical
metals shown in Figure 3. Their position along the Witch Bay –Gibi Lake Hi gh Strain Zone
enhances the potential for structurally hosted sulphide -rich mineralization similar to that
targeted at NAM’s adjoining claims.
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
Figure 3. Ontario Geological Survey regional geology map with key property acquisitions that
comprise the Bonanza Ridge Gold and Critical Metals Project. Lavender Lake and Gibi
Properties (hashed purple area) shown as one Property. Known mineralized prospects shown
in yellow diamonds. Regional deformation zone outlined by dashed lines.
With infrastructure, road access, and powerline proximity already in place, NAM is now
positioned to advance a broader, more integrated exploration strategy across the
consolidated land package. As work progresses, the Company intends to prioritize new target
generation, structural modelling, and field verification to support a future discovery -driven
drill campaign.
The Kenora Gold District is a historic gold -producing region known since the late 1800s for
its Archean lode -gold deposits and continues to see renewed investment from major and
mid-tier mining companies. Supported by year -round access, skilled labour, and expanding
development activity, the region remains one of Ontario’s most attractive opportunities for
new gold and critical-metal discoveries.
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
Terms of the Option Agreement
To exercise the Option, NAM’s agreement calls for a series of cash payments and share
issuances to the Prospectors, exploration expenditures on the Project. Any share payments
that become issuable under the terms of the agreement will be based on a 10 -day trading
average prior to the date of issuance, subject to a minimum deemed issue price of $0.255 per
share. NAM has the ability to terminate the agreement any time after the first year’s
commitments have been completed. There are no finder’s fees payable in connection with
this transaction.
Lavender Lake Property
Date / Milestone Cash Payment NAM Common Shares
Within 10 days of Regulatory Approval $15,000 $15,000 in shares
Year 1 (from regulatory approval) $30,000 $30,000 in shares
Year 2 (from regulatory approval) $37,500 $37,500 in shares
Year 3 (from regulatory approval) $70,000 $70,000 in shares
Gibi Lake South Property
Date / Milestone Cash Payment NAM Common Shares
Within 10 days of Regulatory Approval $7,500 $7,500 in shares
Year 1 (from regulatory approval) $12,500 $12,500 in shares
Year 2 (from regulatory approval) $15,000 $15,000 in shares
Year 3 (from regulatory approval) $15,000 $15,000 in shares
The transaction and any securities issued in connection with the agreement are subject to TSX
Venture Exchange approval and a four -month plus one day hold period in accordance with
applicable Securities Laws.
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
Analytical Methods, Chain of Custody, and Quality Assurance/Quality Control
NAM maintained a rigorous QA/QC protocol for all the verification rock samples collected for
due diligence purposes. Two certified reference materials (CRMs) were inserted into the
sample batch. The CRMs were sourced from industry -certified providers and s elected to
match, as closely as possible, the expected mineralization style and grade ranges of the due
diligence samples.
All samples were individually sealed in heavy -duty plastic bags, labelled with unique sample
numbers, and placed into rice bags for transport. Continuous possession of the samples was
maintained until they were dropped off at a courier service in Saskatoon for express delivery
to SGS Canada Minerals laboratory facilities in Burnaby, British Columbia. At this facility, the
samples were weighed and prepared into pulps in accordance with SGS’s standard procedures
before being analysed on a RUSH basis for gold and multi-element analysis.
The analytical work included:
• Gold: Au exploration grade 50 g Fire Assay with Atomic Absorption Spectrometry
(“AAS”) (reporting limits 5 to 10,000 ppb) (GE_FAA50V5)
• Gold: Au over limit analysis “ore” grade 50 g Fire Assay with Gravimetric Finish
(reporting limits 0.5 to 10,000 ppm) (GO_FAG50V);
• Silver: Ag over limit analysis “ore” grade 30 g Fire Assay with Gravimetric Finish
(reporting limits 50 to 10,000 ppm) (GO_FAG37V);
• Multi-element: 55 element analysis – sodium peroxide fusion, ICP-AES/ICP-MS,
(GE_ICM90A50);
• Multi-element: Cu, Co, Ni, Pb, Zn over limit analysis “ore” grade sodium
peroxide fusion, ICP-AES (GO_ICP90Q100)
Internal laboratory QA/QC procedures at SGS included the insertion and analysis of certified
reference materials (standards), analytical blanks and sample duplicates with the submitted
samples to monitor analytical accuracy and precision.
Qualified Person
Dr. William Stone, P.Geo. and an independent Qualified Person for the purposes of National
Instrument 43-101 Standards of Disclosure for Mineral Projects and a geoscience consultant